7 February 2013
Mark Firmin, Brian Green and Howard Smith of KPMG’s Restructuring practice were appointed joint administrators to Cobbetts LLP on 6 February 2013. Following their appointment they completed an agreement to sell the business to DWF, in a ‘pre-pack’ deal.
The sale sees 419 of Cobbetts’ employees and partners, from its four offices in Manchester, Leeds, Birmingham and London, transfer to DWF. The finance litigation team has been acquired by Walker Morris in Leeds.
Mark Firmin, joint administrator and UK regions head of restructuring at KPMG, said: “In the current economic climate we are delighted to have brokered a deal that saves more than 400 jobs. We have moved swiftly, working in collaboration with a number of stakeholders including the Solicitors Regulation Authority to conclude this deal between Cobbetts and DWF. This is a strong result and an important step forward for DWF in the market.”
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